Forex news and the most important events on the economic calendar this week from 7 to 11 August

This week, investors' attention will turn to many important forex news scheduled to be released at successive times throughout this week, including US inflation data, scheduled for next Friday, in order to search for any new indications about the strength of the growth path of the largest economy in the world and about the possibility of an increase Interest rates for the third time by the Federal Reserve this year, in addition, market participants are awaiting with great interest the speeches of some Fed officials in order to find out any hints about the future of monetary policy and about the details of the plan to reduce the balance sheet of the Council, which amounts to 4.5 trillion dollars .

On the other hand, China is awaiting one of the important forex news, as the monthly data on inflation and trade is scheduled to be revealed amid signs that indicate the strength of the growth of the second largest economy in the world, and in Britain, the markets are waiting for the British economy to announce its report on the activity index of the manufacturing sector, which will reveal the extent of the continued The negative impact of the “Brexit” decision on the royal economy. On the other hand, investors in the oil markets will focus on the monthly reports to be issued by both the International Energy Agency and the Organization of Petroleum Exporting Countries “OPEC” in order to assess the levels of supply and demand for oil in global markets.

Forex news

Forex news

The following are the details of the most important forex news on the global economic scene:

1 . The US economy will release its inflation data.

At 12:30 GMT (8:30 ET) the US Department of Commerce is scheduled to release its monthly report on consumer price inflation, and economists have forecast that consumer prices will rise by 0.2 %, and inflation is expected to rise Core CPI increased by 0.2 %, and on an annualized basis inflation is expected to rise by 1.7 %.

In addition to inflation data, this week's calendar also contains some important reports on job opportunities, unit labor cost, producer price index and weekly jobless claims.

The headlines from Washington will focus on the emergence of any developments regarding the investigations into the relationship between Russia and the election campaign of US President "Donald Trump", even in light of the slowdown in the work of the US Congress, which is scheduled to take its summer vacation during the month of August.

2 . Markets anticipate the speeches of Federal Reserve officials.

This week, a number of Federal Reserve monetary policy officials are scheduled to make several statements regarding the bank’s future policy. On Monday, St. Louis Fed President James Bullard and Minneapolis Fed President Neil will speak. On Thursday, Federal Reserve Bank of New York President William Dudley is scheduled to make his remarks about wage inequality in his district, and on Friday, Neil Kashkari, President of the Federal Reserve Bank of Minneapolis, will speak again. The Federal Reserve in Dallas, "Rob Kaplan."

Financial markets are still skeptical about the ability of the Federal Reserve to raise interest rates at the next December meeting, according to the Fed's monitoring tool, due to fears that inflation will remain far from the bank's targets at 2%, but expectations are widely expected that the balance sheet will begin to reduce. The council's $4.5 trillion in treasury bonds and mortgage-backed securities.

3 . The Chinese economy will release its trade and inflation data

At 03:00 GMT on Tuesday, China will release its trade data for the month of July. Expectations have indicated that these reports will show that the country's trade surplus widened to 46.08 billion US dollars during the previous month of July from a surplus estimated at 42.77 billion dollars last June.

Exports are expected to rise by 10.9 % in July after a rise by 11.3 % in June, and imports are expected to rise by 16.6 % after rising by 17.2 % in June.

China is also scheduled to release data on inflation in producer and consumer prices on Wednesday. It is expected that these reports will show an increase in the producer price index by 5.5%, and consumer prices are also expected to rise by 1.5% during the month of July.

It is worth noting that the Chinese economy, which is the second largest in the world, witnessed a growth of 6.9 % during the second quarter of this year, which was identical to the rate of the first quarter, but it exceeded expectations as a result of the strong support it received from exports, industrial production and the consumer sector.

4 . Markets are awaiting the release of the British economy data on Industrial production.

At exactly 08:30 GMT (4:30 Eastern Time) on Thursday, the Office for National Statistics in Britain will reveal data on the activity of the industrial and manufacturing production sector in the country during the month of July, and the manufacturing sector index is expected to record a steady reading after It witnessed a decrease of 0.2 % during the month of June, and the industrial production index is expected to rise by 0.1 % after decreasing by 0.1 % in May.

It is worth noting that the British central bank had lowered its forecast for economic growth and wages during its meeting last week, did not show a rush to increase interest rates, and also warned that the United Kingdom's separation from the European Union would have a negative impact on the royal economy.

5 . Monthly reports of “OPEC” and the International Energy Agency.

Also from forex news, at exactly 11:00 GMT (7:00 Eastern Time) on Thursday, the Organization of Petroleum Exporting Countries “OPEC” will reveal its monthly report, and that report will include figures on the status of global oil stocks during the month of July, in When the International Energy Agency is scheduled to release its monthly report on the supply and demand for oil in global markets later on Friday, this data will give traders an idea of the results of attempts by oil producers to work to restore balance to the market.

On the other hand, traders will focus on the meeting of oil ministers from within and outside the “OPEC” organization, which is scheduled to be held on Monday and Tuesday in Abu Dhabi to discuss the countries’ commitment to the agreed production limits, which will continue until late March of next year.

So far, the historic agreement on reducing global production has had no significant impact on global stock levels as a result of the increase in supply from producers who did not participate in the agreement, such as Libya and Nigeria, in addition to the significant increase in shale oil production in the United States of America.

Mohamed Abdel Khaleq

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